21Shares moves forward with Polkadot ETF filing as DOT holds the $4 support

21Shares submitted the S-1 update request for the Polkadot grant fund to the US Securities and Exchange Commission, the initial request filed for more than a month ago.

21Shares a subject An updated version of its S-1 application for the Polkadot spot (POINT) ETF SEC, dated March 6. Crypto Asset Manager had previously subject An S-1 registration statement to the SEC for an ETF Spot Polkadot on January 31. The Mars file is an updated version of this initial application, possibly to respond to SEC comments or to provide additional information.

The file sees 21Shares reaching Grayscale, who filed an enumeration of a Polkadot ETF spot with the dry on February 25 Nasdaq.

Polkadot ETF deposits by 21Shares and gray levels are part of a broader trend where asset managers are increasingly looking for dry approval for cryptographic ETFs. 21Shares has also recently tabled ETF targeting Ripple (Xrp) And Solara (GROUND). As for its existing offers, 21Shares currently offers Bitcoin (BTC) and Ethereum (Ethn) ETF, as well as a Number of negotiated products.

Meanwhile, the DOT price seems to have formed a downward corner model on the weekly graph, an upward reversal configuration characterized by lower tops and lower stockings turning into a narrowing range. In other words, the distance between ups and downs decreases, which means that the decline rate slows down. This suggests that sellers lose its momentum and an escape could be imminent. If the point breaks above the local resistance area of ​​around $ 10, this would confirm the corner break. The level of critical support is around $ 4, which, if crossed, will invalidate the model, which could bring dowry to the previous major support at $ 3.60. At the time of the press, Dot is negotiated at around $ 4.5, with the volume of 24 hours of more than $ 255 million, according to Coinmarketcap.

In addition to the potential approval of Polkadot ETF by the SEC, the DOT price can be supported by the launch of Polkadot 2.0 In the first quarter of this year, a major upgrade to come to the Polkadot network designed to improve its scalability and accessibility of developers. An EARLY TESTNET version is already available on the Kusama network, allowing developers and users to live and provide comments on new features before the official version.